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Prost

October 3, 2017

Octoberfest or Oktoberfest was pretty darn awesome, Prost!! Prost is the German equivalent of Cheers. My wife and I were in a few cities in Germany from September 6^th to the 20th, 2017. We rounded out our tour in Munich to attend our first and hopefully not our last Oktoberfest, Prost! We stayed in an AirBnB in Munich a block from the subway so we could get to just about anywhere from door to door in about 15 to 25 minutes.

We drank, ate and walked like never before. It was great to see an area of this beautiful world that many Americans do not get to see. When we were on the trains we saw beautiful fields and hillsides of grapes, hops and all kinds of crops. I can only say that it was a beautiful part of the world. Germany is a must see for someone wanting a beautiful picturesque landscape. Don’t get me started on the drinking. I had a little too much for Oktoberfest.

So what does Germany have to do with Real Estate Investing?? Nothing really. But we were able to leave our businesses to go on a vacation for two weeks and have friends and family take care of things for us. When I came back I kinda felt like nobody missed me. Things kept getting done. Construction kept on going.

This was really mind blowing because I thought I was the center of the universe. I thought if I was gone, nothing could get done. Now that I think about it, I did delegate lots of responsibilities to my sister, brother-in-law and my workers.

My whole goal was to leave and have my phone ready to answer questions. I reminded everyone of the 7 hour time difference, but let them know that I was available anytime. Somehow, I only got a few calls. I was happy that I was able to spend time with my wife exploring Deutchland. Then I started to think back several weeks. I had signed a power of attorney for my sister to do transactions for me. I had instructed the workers what they had to do over the next couple of weeks. Everyone knew what they had to do.

Was I just a master of planning?? Well, sort of. I guess I am at a stage of my business that I want the business to almost run without me. I want to empower people to make decisions. We have colors set for our houses. The painter knows that the interior is Sahara Dessert Sand, semi-gloss, he knows that the interior trim is bright white glossy.

I have contracted a number of functions out to other people. In fact as I write this my office helper is filing all the receipts that I had all over my desk. I had insurance, Home Depot, Lowes, and all kinds of utility bill receipts all over my desk and the floor. My new helper will file, make copies, and next week will start to help with my direct marketing. All the stuff that I hate to do, but things that are vital to the functioning of an office.

When my wife and I got back from vacation my lawn was cut, edged and beautiful. A couple of days later I got my oil changed for about $35. at one of those quick lube places. I got to read about 15 or so pages of the book I am reading by Alan Greenspan, “The Age of Turbulence” while I waited. Its the little things like someone cutting your yard. Someone cuts the yard for me, so I am getting rid of my lawn mower and edger.

Having someone do my marketing (Lisa), cutting the yard (Joe), and even selling my houses (Simon Arcos) has really freed my time up so that I can meet with more people. I can also get my bike riding done a little more these days. Isn’t that why people get into real estate investing, because they want more free time? Do you want more free time?

Try delegating some of the jobs that you do not like to do or that you are not good at. Stick with the things that you like, because you are probably better at them when you like them.

Something that I do like to do is “Demo Day”. I like to get into the project and knock out some sheetrock and swing a hammer or sledge hammer. Sometimes I like to cut trees. That big Husqvarna 450 Rancher chainsaw that my wife bought me for Christmas is one of my best friends. I like to do some of that muscle work. Not too often though.

At the beginning, I did everything. I did all the marketing, talking with people, lots of the construction, and the selling of the homes that I flipped. Now as my business matures somewhat, I want to be able to scale my business. I will never get to do that if I am still cutting the lawn at all the properties that I am working on, including my own. To everyone, PROST!!